How Big is the Tanker Shipping Market | Industry Trends & Forecast 2025

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Code: MTA9315

Publication Date: Sep 2025

How Big is the Tanker Shipping Market?

According to 6Wresearch internal database and industry insights, the Global Tanker Shipping Market was valued at USD 7500 Billion in 2024 and is expected to reach USD 12500 Billion by 2031, growing at a compound annual growth rate of 7.20% during the forecast period (2025-2031).

Increased demand for crude oil and petroleum products, increased international trade, the use of eco-friendly fuel alternatives, the adoption of efficient shipping technologies, and the growing emphasis on environmental regulations are all factors contributing to the market growth.

Key Growth Drivers of the Tanker Shipping Market

Growing demand for petroleum products, LNG, and crude oil
Increase in international trade and goods transportation
Energy-efficient technology adoption in the shipping sector
Demand for shipping solutions with low carbon emissions
Improvements in fuel-efficient engine and vessel design technology
Initiatives from the government to encourage cleaner shipping

Tanker Shipping Market Trends

The Tanker Shipping Market is witnessing for major growth with notable trends such as the increasing adoption of eco-friendly ships equipped with advanced propulsion technologies and low-emission systems. There is a notable rise in the demand for tanker vessels to transport liquefied natural gas (LNG) and chemicals in addition to crude oil. Automation and digitalization are playing a larger role, with smart ships and automated operations improving efficiency and reducing operating costs. Additionally, the market is witnessing a rise in the retrofitting of older ships to meet more stringent environmental regulations.

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Emerging Developments in the Tanker Shipping Market

Emerging developments in the Tanker Shipping Market include the development of hybrid and alternative fuel-powered vessels to reduce emissions and enhance fuel efficiency. Fuel consumption is being reduced by the use of energy-saving devices and advanced hull designs, as well as air lubrication systems. The use of LNG as a shipping alternative fuel, which has lower emissions than conventional marine fuels, is also receiving more attention. Developments in digitalization and artificial intelligence technologies are crucial to the growth of autonomous and remotely operated vessel innovations.